Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1887-01-20
BUSINESS AND MINING NOTES
Mining PredictiOns-GOld DiveIOp-
ments--Silver and Lead.

Senator Jones is reported as predicting
great mining boom on the Pacific Coast
this year. The magnitude of the open
ing bonanzas on the Comstock are gen.
orally moderated. He says that the
Alaska gold mines show immense bodies
OF low-grade, free milling gold ore. With
plenty of available water power, mining
and reduction OF ores cost less than at
the Homestake mine in Dakota.
The Phoenix mine, in Arizona, where
they have Il 250-foot ledge at 200 feet
depth, with an average yield OF $40 ton
of free milling gold ore, is the only body
OF ore approaching the Alaska bonanzas
in extent and richness
That indomitable rustler, John Smell,
not content with having the world by the
ears as superintendent of the Big Hole
placers, is organizing another gold COM
pany in this city, to work some promising
placer and ledge property in Montana.
Salt Lake City will soon overflow with
bloated capitalists.
Silver and lead are tending upward, to
the great satisfaction of the mining fra
ternity in Utah aud elsewhere.
Storms have been raging in the noun
tains round about Salt Lake for the last
week.
The total output OF bullion from the
mines in Bodie District, California, for
the past ten years is estimated at $17,-
66l 500. Dividends paid to shareholders
during the same period, $685. 800, the
assessments levied during the same
time including one unpaid, amount to
| $3.50 400
The fact that comparatively few people
called at the seCretary's office in San
! Francisco on the day the last dividend
was payable is conclusive evidence that
all but few thousand shares in Consoli-
dated California & Virginia are held
closely by insiders. The Post says
''This is in marked contrast with the
scene on the date when the last dividend
was discussed. Then the hallway lead
ing to the Office was thronged daily with
| shareholders eager to receive their pro
rata OF the sum disbursed,"
The yield OF gold in Victoria, Australia,
was 10000 ounces less in 1886 than in
1885
Petroleum has recently been discov-
cred near Green River station, on the
line OF the Denver IL Rio Grande Rail
road.
The oleomargarine tax yielded the
Government the neat sum OF $500, 900
last month
The Phoebe Consolidated is now work
ing thirty men in the mine. Twenty to
thirty tons OF screenings are being hoisted
per day.
The Balbac in Hike, Nevada, claims
to have four feet OF high grade ore in
sight
The mines in Paradise District, Ne
Vada, are coming to the front. The new
works at Reno will prove of great value
to that section OF country.
The bullion production from the Com
stock mines during the year, will foot up
nearly S7,00O,OOO
From Alex. Mcdonald, who was in
Taylor few days ago, the White Pine
Ners learns that the prospects of the old
camp are frightening. The Excheuuer
people are getting ready to start their
mill An important strike has been made
in the lineup by the lessees But the
most promising OF all is John Wearne's
find in the Wanderer. This mine adj
joins the Chance, and is about four miles
north OF town. Twenty feet has been
sunk on the vein, and large body OF
ore uncovered that averages over $50
ton. -Four men are at work on it, and it
looks rs il biz mine will be uncovered
there. Mr. Wcarne is energetic and de-
serves success, lie believes he has big
mine, and we hope he has.